Fraser Group buys Missguided for £20m

Sports Direct owner Fraser Group buys Missguided after collapse according to  CEO Michael Murray, the group also owns House of Fraser and Sports Direct for £20million. The firm has around 330 staff appointed administrators on Monday after it suffered from supply chain problems rising freight costs and increased competition from rivals. Suppliers had accused the business of leaving millions of pounds of debt unpaid. Fraser confirmed it has bought the intellectual property of Missguided and its sister brand Mennace, which it said would be operated by administrators for a transition period of around eight weeks. It said to run Missguided as a Standalone business within the group.

Mr. Murray also said: “Missguided’s digital-first approach to the latest trends in woman’s fashion will bring additional expertise to the wider Fraser Group”.